Eastern Bank Sells 8,672 Shares of Donaldson Company, Inc. $DCI

Key Points

• Eastern Bank has reduced its stake in Donaldson Company, Inc. by 60.8%, selling 8,672 shares and now holding a total of 5,592 shares worth approximately $388,000.
• Several institutional investors, including Impax Asset Management Group and GAMMA Investing LLC, have increased their stakes in Donaldson during the first quarter, contributing to a total of 82.81% of the stock owned by institutional investors.
• Analysts have set new price targets for Donaldson stock, with a consensus rating of "Hold" and an average target price of $80.33, indicating a mixed outlook for the company's future performance.

Eastern Bank reduced its stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) by 60.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,592 shares of the industrial products company's stock after selling 8,672 shares during the period. Eastern Bank's holdings in Donaldson were worth $388,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc raised its stake in Donaldson by 27.5% in the first quarter. Impax Asset Management Group plc now owns 878,632 shares of the industrial products company's stock worth $58,130,000 after buying an additional 189,580 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Donaldson by 22.5% during the first quarter. OneDigital Investment Advisors LLC now owns 3,697 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 680 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Donaldson by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 379,925 shares of the industrial products company's stock valued at $25,478,000 after purchasing an additional 7,663 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Donaldson by 162.5% during the first quarter. GAMMA Investing LLC now owns 2,428 shares of the industrial products company's stock valued at $163,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Donaldson by 78.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,555 shares of the industrial products company's stock valued at $372,000 after purchasing an additional 2,435 shares in the last quarter. 82.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DCI shares. Morgan Stanley raised their target price on shares of Donaldson from $69.00 to $72.00 and gave the company an "underweight" rating in a research note on Tuesday, September 2nd. Stifel Nicolaus raised their target price on shares of Donaldson from $69.00 to $84.00 and gave the company a "hold" rating in a research note on Thursday, August 28th. Wall Street Zen raised shares of Donaldson from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Donaldson in a research note on Saturday, September 27th. Finally, Robert W. Baird raised their target price on shares of Donaldson from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Donaldson currently has a consensus rating of "Hold" and a consensus target price of $80.33.

Insider Buying and Selling

In related news, President Guillermo Briseno sold 13,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $79.03, for a total value of $1,066,905.00. Following the sale, the president owned 25,309 shares in the company, valued at approximately $2,000,170.27. This trade represents a 34.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Amy C. Becker sold 18,500 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $81.71, for a total transaction of $1,511,635.00. Following the completion of the sale, the insider owned 44,645 shares in the company, valued at $3,647,942.95. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,900 shares of company stock worth $5,129,264. 2.70% of the stock is owned by insiders.

Donaldson Trading Down 2.1%

Shares of DCI stock opened at $79.75 on Monday. Donaldson Company, Inc. has a 12-month low of $57.45 and a 12-month high of $83.43. The company has a current ratio of 1.93, a quick ratio of 1.25 and a debt-to-equity ratio of 0.43. The firm's 50 day moving average is $78.58 and its 200 day moving average is $71.75. The stock has a market capitalization of $9.24 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.89 and a beta of 0.99.

Donaldson (NYSE:DCI - Get Free Report) last issued its earnings results on Tuesday, February 28th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter. Donaldson had a net margin of 9.94% and a return on equity of 29.50%. The company had revenue of $802.50 million for the quarter. Research analysts expect that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $1.20 annualized dividend and a yield of 1.5%. Donaldson's dividend payout ratio (DPR) is currently 39.34%.

Donaldson Profile

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.

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